Binance Buys 100 Million Dollar Stake in Circle
Binance has acquired a 100 million dollar stake in Circle as part of a five year partnership expansion. The deal involves issuing shares and promoting USDC on the exchange platform.
Xurve View
Insights:
Xurve View
Circle Internet Group Inc purchased a $100 million stake from Binance during Tuesday morning premarket trading, deepening the crypto exchange's ties to the dollar-pegged token issuer. Circle shares rose 2% following the disclosure, adding to a 19% gain for the year. The transaction values the stablecoin operator at a market capitalization of $24 billion.
